AS EESTI TELEKOM

INCOME STATEMENT

01.01-31.03.99

 

IAS, consolidated, unaudited

EEK thous.

 

                                                         Group                   Estonian Telephone Co.

                                                          3M 99         3M 98         3M 99         3M 98

 

Revenues

Net sales                                                573,054       500,126       569,051       494,636

Change in work-in-progress                                   175        -1,749           175        -1,749

Other revenues                                             3,939         4,876         3,910         4,735

Total revenues                                           577,168       503,253       573,136       497,622

 

Operating expenses

Materials, consumables, supplies and                     162,388       148,429       165,167       148,429

services

Other operating expenses                                  59,498        53,463        56,940        51,706

Personnel expenses                                        95,692        87,357        92,897        85,225

Other expenses                                             6,688         3,270         6,688         3,213

Total operating expenses                                 324,266       292,519       321,692       288,573

 

Earnings before depreciation                             252,902       210,734       251,444       209,049

 

Depreciation and value adjustments of                    159,994       107,488       159,276       106,988

current assets

Operating profit                                          92,908       103,246        92,168       102,061

 

Financial income

Financial income from subsidiaries and                       146                         491           471

associated companies

Financial income from other

fin. investments

Foreign exchange gain                                         89           103            88            97

Other financial income                                       718           975           673           975

Total financial income                                       953         1,078         1,252         1,543

 

Financial expenses

Expenses from subsidiaries and

associated companies

Intereste expenses                                        15,682        15,664        15,645        15,506

Foreign exchange loss                                      2,709         1,678         2,709         1,678

Other financial expenses                                   7,206         9,845         7,206         9,845

Total financial expenses                                  25,597        27,187        25,560        27,029

 

Profit before taxes                                       68,264        77,137        67,860        76,575

 

Income tax: expense (-) / income (+)                      -1,424        -1,351        -1,250        -1,103

 

Profit after taxes                                        66,840        75,786        66,610        75,472

 

Minority interest                                            230           314             0             0

 

Net profit                                                66,610        75,472        66,610        75,472